26. Prove Lemma 9.3. Hint: Let = y + . Note that / ( / )...

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26. Prove Lemma 9.3.

Hint: Let ÷ = y + ä. Note that / ( / ) = ta is a concave function when 0 < a < 1, and use the fact that for a concave function f(t + h) - f(t) is decreasing in /.

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